Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
BTC The International Monetary Fund approved US$138 million in financing to El Salvador, despite failing to meet its Bitcoin accumulation target
Despite failing to meet its Bitcoin accumulation target, the International Monetary Fund (IMF) granted exemptions and approved US$138 million in financing to El Salvador based on corrective measures and renewed commitments. Since June 2025, private donations have become the main source of Bitcoin accumulation, and authorities have transferred most ownership and control of the Chivo wallet to private management agencies.
Financing approvals and policy adjustments
Although El Salvador failed to achieve its Bitcoin accumulation target under its broader economic reform plan, it still received US$138 million in financing approval from the International Monetary Fund. According to the International Monetary Fund, its executive board completed its second and third reviews of the country's financing arrangements on Thursday.
Directors noted that in view of the corrective measures and new commitments taken by the Salvadoran authorities, exemptions were granted for certain performance standards that were not met. The decision unlocks another disbursement under its 40-month long-term financing facility totaling US$1.4 billion.
In addition to formal approval, lenders reiterated their expectation that El Salvador will reduce government participation in Bitcoin activities. Officials have made progress on financial sector reform, fiscal transparency, and anti-money laundering and counter-terrorist financing measures.
Changing Government Role and Clarification of Bitcoin Source
In addition, authorities have transferred most of the ownership and operational control of the Chiewo Bitcoin wallet to private operators. According to a September assessment by lenders, the government retained a minority stake and custody responsibility for client assets.
Documents provided by Salvadoran authorities show that since the project was first reviewed in June 2025, the accumulation of Bitcoin has mainly resulted from private donations. The International Monetary Fund reported that these additions did not involve public funds, responding to questions that government spending was used to purchase cryptocurrency holdings.
Its assessment distinguishes between the amount of bitcoins increased through private donations and additional bitcoins purchased under arrangements using government resources. Previously, when El Salvador announced in November 2025 that it would acquire 1,090 bitcoins for approximately US$100 million, it raised many questions. A September explanation clarified the source of the additions, and the board subsequently granted exemptions for substandard bitcoin accumulation standards.
Beyond the recorded donations, the International Monetary Fund does not expect further accumulation of bitcoin as the authorities implement commitments under the financing plan.
Future reform priorities
At the same time, lending institutions have identified strengthening cryptocurrency supervision, governance and improving transparency of public holdings as priorities for further reform. These commitments are accompanied by efforts to reduce the country's remaining participation in Bitcoin activities and strengthen oversight of digital assets.
The approval advances El Salvador's International Monetary Fund financing arrangements while retaining existing requirements for Bitcoin accumulation, public holdings and government cryptocurrency operations.
